turnkey investing from out of state
I am looking to invest in the GA real estate market, and I am considering buying through turnkey because I live in California. From the turnkey websites I have found, it seems like the sale prices are being set at a rental income/purchase price of ~1.0%. Does anyone know of a turnkey that offers a better rate? Considering the rental versus home prices in and surrounding Atlanta, I would expect a turnkey to offer a rate closer to 1.5%. If I am going to purchase a home at full value from a turnkey, would I be better off to buy a home that doesn't need repairs with a realtor and just find a property manager to rent it out? Any feedback and insight from the local gurus would be helpful! Thanks.
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It's not a direct linear relation of rent vs acquisition is 1%. Lower properties have higher advertised ratios because they are more pain in the butt than more expensive properties. 60k property rents for 900 and a 100k property rents for 1100.